US Camera Company Giant GoPro revealed earnings for the final quarter of 2015 which were not good to say the least.
The Company which went public in 2014, predicted 4th Quarter earnings of $435 Million USD and a total of $1.6Billion USD for the year. Reported earnings significantly missed this target with $200Million for the quarter and $633 Million for the year.
GoPro has responded to the years earnings by slashing its staff, announcing that it would lay off approximately 7% of its workforce.
The market has responded as expected, with stocks dropping 14% in a day’s trading.